1. Data Introduction

We are going to use the laws of probability and properties of random variables to plan a trip. We will warm up by considering how conditional probabilities differ from marginal probabilities.

2. Analysis Goal

Ultimately, the goal of this analysis is the estimate the cost to fly several of us across the globe for a statistics conference. We will do this by using random variables to model the airline ticket prices of two different destinations.

Click this link to view the worksheet for experiments with random variables.

3. Summary of Results

\[E(W) = E(X) + E(Y), \quad\text{and } Var(W) = Var(X) + Var(Y).\]